(Reuters) - Morgan Stanley's fourth-quarter profit more than doubled from a year earlier when it recorded a $1 billion tax charge due to changes in the U.S. tax law.
Net income applicable to Morgan Stanley jumped to $1.53 billion, or 80 cents per share, in the fourth quarter ended Dec. 31, from $643 million, or 26 cents per share, a year earlier. [LINK]
On an adjusted basis, the bank earned 73 cents per share, compared with 84 cents per share a year ago.
Analysts on average were looking for 89 cents per share, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable.
(Reporting by Aparajita Saxena in Bengaluru; Editing by Saumyadeb Chakrabarty)
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